Bulls vs Bears: Chips Stocks Win becomes the hyper scalers loss
The week that closed the first half of 2026 delivered something more interesting than a directional market move: it forced a clarification. The AI trade is not over. It’s just been redrafted. The hyperscalers — companies spending hundreds of billions to build the infrastructure — are getting sold. The companies supplying that infrastructure at margins they can barely keep up with are getting bought. Micron’s blowout quarterly result, released Wednesday night, was the exclamation mark on a week that started with the “Chip Wreck” and ended with a very different conversation.
